Bernanke Warns of `Major Crisis` on Debt Limit

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July 13 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke says that a failure by Congress to raise the nation’s $14.3 trillion debt limit would lead to a “major crisis” and throw “shock waves” through the financial system. Bernanke testifies before the House Financial Services Committee in Washington. (This is an excerpt. Source: Bloomberg)

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